Bureau of Alcohol, Tobacco, Firearms, and Explosives officials said at least 43 firearms were stolen during that burglary. It's unclear how many guns investigators recovered when arresting Crawford, Flake, and Jacquez, but investigators did say they also found guns that were not part of the Range USA burglary.

Shelby County Sheriff's Office, Memphis Police Department, and ATF conducted hours of surveillance to form a criminal case against the three people in custody.

According to ATF, more people are involved with this crime. Therefore they expect to make more arrests in the future. Investigators also said they have not recovered all of the guns stolen from Range USA.

"The others, we can't speak to their location. We don't know if they've been distributed, if they're in a house somewhere, we don't have that information yet," Ballard said.

Investigators acknowledge that, given the level of violence in Memphis, the stolen guns are cause for concern.

"Putting that number of weapons on the street is a great concern for our command staff. It's a great concern for all the law enforcement agencies combined, and I think that's why you see the cooperation between the federal and local agencies," Ballard said.

Crawford, Flake, and Jacquez are being held at 201 Poplar.

ATF said the $2,500 reward for information in the case remains active.